SNG: The Nigerian equities market sheds $366mln as profit-taking drags ASI

By Zawya08:51 (UTC), 30 September 2026 Updated

By Staff Writer

The Nigerian equities market extended its decline on Tuesday as renewed profit-taking across major sectors dragged the NGX All-Share Index down 0.29 per cent to 251,913.20 points.

The decline moderated the market’s year-to-date return to 61.88 per cent, while total market capitalisation fell by ₦486.63 billion to ₦163.53 trillion.

Market breadth remained negative, with 32 stocks closing lower against 27 gainers, translating to a breadth of 0.8x.

NPF Microfinance Bank, LivingTrust Mortgage Bank, WAPIC Insurance, VFD Group and ABC Transport recorded the strongest price gains, while Sovereign Trust Insurance, Unilever Nigeria, Neimeth International Pharmaceuticals, UPDC and International Breweries emerged as the major decliners.

Sectoral performance was mixed, although the major sectors closed lower. The Banking Index declined 0.91 per cent, while the Consumer Goods and Industrial Goods indices fell 0.83 per cent and 0.91 per cent, respectively.

The Insurance Index bucked the trend, gaining 0.38 per cent, while the Oil/Gas and Commodity indices were unchanged.

Trading activity also weakened significantly during the session, with the number of deals, volume and value traded declining by 23.40 per cent, 46.46 per cent and 13.38 per cent, respectively.

A total of 47,301 deals were recorded, involving 548.67 million shares valued at ₦34.30 billion.

The session’s decline came amid a broader moderation in the market after its strong run this year, with investors taking profits in some highly valued stocks.

Analysts at Cowry Asset Management expect the underlying positive trend in the equities market to persist as investor sentiment improves, although profit-taking could continue to constrain the pace of gains in the near term.

The latest decline leaves the market with a substantial 61.88 per cent gain year-to-date, despite recent bouts of profit-taking.